If an identical product can be sold in two different markets, and no restrictions exist on the sale or transportation of product between markets, the product's price should be the same in both markets. this is known as: the law of one price.
This is the term that is used to refer to the law that has it that in the absence of any forms of frictions. That in the global markets. the prices that goods would have to be sold are to be the same across the markets.
It helps in the elimination of all forms of differences that are known to exist in prices that are in markets through the use of arbitrage.
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